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Pearl Corp. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Pearl Corp.'s purchases of EZslide snowboards during September. During the same month, 107 EZslide snowboards were sold. Pearl Corp. uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 13 $104 $ 1,352 Sept. 12 Purchases - 46 107 4.922 Sept. 19 Purchases 5,724 Sept. 26 Purchases _ 19 109 2,071 Totals 131 $14,069 (a) Compute the ending inventory at September 30 using the FIFO, LIFO and average-cost methods. (Round average cost per unit to 3 decimal places, e.g. 125.153 and final answers to decimal places, e.g. 125.) FIFO LIFO AVERAGE-COST The ending inventory at September 30 $ (b) Compute the cost of goods sold at September 30 using the FIFO, LIFO and average-cost methods. (Round average cost per unit to 3 decimal places, e.g. 125.153 and final answers to 0 decimal places, e.g. 125.) FIFO LIFO AVERAGE-COST Cost of goods sold $

Answer 1

FIFO LIFO Average Cost 2578 2611 2529 Ending inventory on Sept 30 Cost of Goods sold 11458 11540 11491 Periodic : FIFO Goods Purchasd Cost of Goods Sold Inventory Balance cost of Goods # of Units Cost Per Cost Per Unit Available for sales sold Unit Ending Inventory Goods Sold # of Units Cost Per Unit 104 1352) 104 1352 104 # of Units Beginning inventory Purchases Sep-12 Sep-19 Sep-26 Totals 107 108 109 4922 5724 2071 14069 107 108 109 4922 5184 107 108 109 19 540 2071 2611 131 107 11458

Periodic : LIFO Goods Purchasd Cost of Goods Sold Inventory Balance cost of Goods # of Units Cost Per Cost Per Unit Available for sales sold Unit Cost of Goods Sold # of Units Ending Inventory Cost Per Unit 104 1352 01040 13 104) 1352 # of Units Beginning inventory Purchases Sep-12 Sep-19 Sep-26 Totals Periodic : Weighted Average 111 1177 53 191 131) 107| 108 109 4922 5724 2071 14069 53 19 107 107 108 109 3745 5724| 2071 11540 0 0 107 108 109 24 2529 # of cost Per Cost of Goods Sold Inventory Balance Cost of Ending Unit Goods Sold" # of Units Cost Per Unit Inventory Goods Purchasd cost of Goods # of it cost of Goods Cost Per Unit Available for sales Units sold 104 1352 # of Units Cost Beginning inven 13 Purchases Sep-12 46 Sep-19 5 3 Sep-26 19 Totals 107 108 1 09 131 4922 5724 2071 14069| 107.397 107 107.397 11491 24 107.397 2578 Per Unit Rate = 14069/131= 107.397